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  • Thumbnail for The Natural Resource Curse: do natural resources have a lasting impact on economic growth?
    The Natural Resource Curse: do natural resources have a lasting impact on economic growth? by Weicht, Patricia

    One surprising aspect of developmental economics is that natural resources do not always have the positive impact on economic growth that theory suggests. The natural resource curse explains the phenomenon that countries with a large natural resource abundance grow more slowly than those with few natural resources. Previous empirical studies focus on the effects of natural resources on growth until the early 1990s. This paper expands these studies, finding that the negative relationship between economic growth and natural resources has continued beyond the 1990s into the present. Using both ordinary least squares and instrumental variable analysis, this paper confirms the negative association between natural resources and economic growth.